To localize value lists for a standard static-list based combo box, specify a Culture Strings record for the value's name and description as shown below.
Values Record With Localize Value and Description. 
Below is an example of a standard static list-based combo box. On the left, the user is tied to the EN culture. On the right, the user is tied to the French culture.
Example of Localized Standard Static List-Based Combo Box 
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